S1 E12 Hey Carter – the future of new car buying

Hey Carter
Listen to this episode

Hey, we’re Carter!

Hey Carter is an app that makes the new car purchasing process a breeze. Amit, Tom and Vikash met at a management consulting firm and quickly hit it off. They then moved on to be executive employees of a startup and did phenomenally well there before deciding that they wanted to branch off on their own and make something awesome. And that first something awesome is Hey Carter. In this episode we hear about application testing with users, building a company around a team instead of an idea, the benefits of getting a funding partner, and looking at the whole value chain of stakeholders and how you can create value for all of them.

carter-logo carter-cars carter-app

Show Notes:

Look out for insights into the following:

1. The Founders’ (Tom, Vikash and Amit) backstory:

Tom, Vikash and Amit take us through their individual journeys towards entrepreneurship

2. You’re only as good as your team

The MMA team have worked well together in different organisations and different roles, and that is their “secret sauce”, its not their idea but who they are and how they work together.

3. Ideas do come from necessities

Vikash, realised the stress of buying a new car when he had to look at changing his car as his family grew.

4. What is Hey Carter?

An application that learns what you like and dislike and finds you the appropriate car and as a bonus, can get you quotes. Its a platform or department store for cars that gets you to the right rail.

5. Customer insight is very important

Throughout their journey, the team tested their assumptions and their application to ensure that they were on the right path and giving consumers what they wanted. If you can’t find customers, start with people you know who fit your target market. Key: don’t exhaust your users, once you start to see a trend in answers, pause, make changes and then test the next set of users.

6. Marketing strategy

Before you start marketing or spending money on marketing, it would be good to map out your plan of action. Who do you want to start with? Where do they get their information from? How do you tailor your message appropriately etc.

7. Don’t hold onto your idea

Make changes as and when they are needed. Not for the sake of changing, pick your battles, but also make sure that you don’t hold onto something that isn’t wanted or working.

8. Development process

Prioritising development phases and stages have been key to getting them to build and test quickly. Outsourcing outside of South Africa wasn’t an option for them, because they wanted to work collaboratively in real time.

9. Outsourcing is not a swear word

They have outsourced key elements that weren’t their core competencies, but they still ensure that they can work well with them. It’s not about price or skill, but do we click.

10. To fund or not fund

When you want to grow, you need cash. It allows you to focus on your business. Looking for a funding partner and not just funding, is key. Someone who can give you money and support and experience.

11. Build value throughout your value chain

When building your business idea, all stakeholders should have value. From partners to funders to end users. They will all play a key role at some point in the value chain, so give value and you will receive value.

Significant quotes:

“I didn’t want to solve other people’s problems, I didn’t want to walk away without implementing it, I actually wanted to make a difference myself.”

“We didn’t start with an idea then formed a team, we started with a team then formed an idea”

“How do you develop our team into a high performing team.”

“The leap’s the leap. The stars never align.”

“If you want to do something, you have to make it happen.”

“What is your MVC, minimum viable company?”

Links Mentioned:

Hey Carter’s website

Facebook page

About the author, Charlotte

Charlotte, or Charlie as she likes her friends to call her, is what you would call a multipotentialite or a jack of all trades if you must. She been an auditor, an English teacher, a consultant, an executive assistant and product manager. She loves to read, watch shows, learn, tries to exercise, eats a lot, travels and tries out new things.

Entrepreneurship excites her not only because of its capability to bring joy (read freedom) to entrepreneurs, but also because it can vastly improve a country or continent for the better.

4 Comments

  1. Troy Koubek on November 22, 2016 at 04:28

    Undoubtedly, the internet is among the most preferred market places where sellers and buyers
    meet. All since then, Indica is floating in the market with a regular sale.
    According to Campbell Fuller, spokesman for the ICA,
    buyers need to contact their insurer before agreeing to a purchase.

    • Charlotte Luzuka on December 5, 2016 at 11:18

      Hi Troy

      I didn’t realise that. However, the purchase isn’t finalised through the application. It is done with the dealer, so I’m sure they will ensure that the purchaser’s insurer is made aware before it is finalised 🙂

      • Kaed on December 27, 2016 at 07:11

        I’m rellay into it, thanks for this great stuff!

        • Charlotte Luzuka on January 27, 2017 at 11:41

          Yay! Glad to hear that Kaed. New episodes will be coming in February, so watch this space.

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